A Bank of Iraq trade cooperation with the National Commission for Investment in the capital Baghdad, Matmralmassarv general in Iraq in order to develop serious solutions to get to the banking sector performs his duties in particular, and activating the role of the private sector in investment projects for the advancement of the Iraqi economy to move the wheel the economy forward.
The independent Iraqi news agency / Baghdad / p. M .. A member of the Finance Committee parliamentary deputy Najib Najib said the final accounts to the government in 2011 did not reach the Parliament so far, and this could disrupt the general approval of the budget for the year 2012.
Najib and showed in a statement to the reporter (and independent Iraqi news agency) that Finance Committee supports the opinion of the President of parliament not to ratify the budget until the arrival of the final accounts because these accounts must be up to Parliament to be approved either in the absence of access is not up yet, I think this thing should stand it and not accept it because the budget of interest to the lives of citizens. "
She added that since 2004 until the year 2010 did not reach the final accounts except the final accounts for 2010, which amounted to but they were not final accounts for the lack of scrutiny of the Office of Financial Supervision in violation of the Constitution and the law. "
The Parliament may adjourn until the 14 of February after it failed to discuss the terms of the general budget, which was scheduled on Monday because of a lack of quorum.
The head of the parliamentary bloc MP for the competencies of a coalition of state law Ihsan al-Awadi, it can not be included in all proposals going forward, calling for delivery of the final accounts.
And the Attorney-Awadi in an earlier statement that "the mass offered some suggestions and observations that serve the citizens housing project, including financing the poor," saying that "some of the observations made by his bloc will be included in the budget."
He said the Attorney-Awadi, said discussions about the budget are still ongoing and that there visions to make some transfers in the doors of the budget. "
The MP-Awadi, the need to make the final accounts of the government budget, saying its mass support for this important requirement. "
He was a member of the Finance Committee for the Iraqi List MP Ibrahim al-Mutlaq had expected approval of the federal budget for 2012 over the next month, adding that he was finished a lot of discussion points related to the little that was left, just some observations on the paragraphs relating to the financial assignments.
February 7, 2012
February 07, 2012
Iraq’s parliament reconvened last week after the Iraqiyya bloc ended its two-month boycott protesting the alleged persecution of Sunni officials and the arrest warrant issued on terrorism charges for Vice President Tariq al-Hashemi. As the political crisis seems to abate and parliamentary activity resumes, all eyes will turn toward the annual budget discussions and what they reveal about Iraq’s federalism and the ongoing economic tensions in the country.
Almost a decade after the fall of Saddam Hussein’s regime, Iraq’s economy is still in flux. To date, political accords have not been reinforced by necessary economic measures; nor, most importantly, have decentralization policies to redress the negative impacts of the former Baath regime’s economic programs in the provinces and energize these tormented regions’ dormant economies. The measures proposed hitherto have either been incomplete or otherwise neglected in the subsequent stages of their implementation.
For over four decades, Iraq’s governments have pursued economic policies based on a strategy of strict central management that impoverished the rest of the country to Baghdad’s advantage. As the National Development Plan of 2010-2014 indicates, an analysis of Iraq’s economy at the aggregate, sectoral and spatial levels during this 40-year period reveals large disparities between the capital and the rest of the country in schooling, health care, unemployment, literacy, and other development indicators.
Through the nationalization of banks and the wholesale trade in the 1960s, the Baathist regime systematically transferred trade margins and investment funds from the regional provinces to the capital. Since most of Iraq’s non-agricultural products are imported – and because these traded goods usually carry a minimum of 15 percent trade margin – the central government was able to keep the trade margins in the capital and thereby deprived the regions of an important source of saving and investment. This erosion process further worsened when entrepreneurs and skilled workers fled from the regional centers to Baghdad in search of higher wages and better opportunities.